FAMILIES and seniors from across the region will receive an increase to their income support payments and pensions when indexation takes effect in under a week’s time.
Federal Blair MP Shayne Neumann said the Albanese Labor Government recognised Australians are continuing to grapple with cost-of-living pressures.
“Indexation is a vital mechanism to safeguard the purchasing power of social security payments, ensuring they keep pace with the cost of living,” he said.
“Higher inflation is being felt most within households on low fixed incomes and these payments will help ease the financial burden for many locals who are doing it tough or may need some extra support.”
Mr Neumann said there was a large veteran community in his electorate and the Government was making sure they and their families were looked after following their service.
What you get
The increase, that takes effect from Wednesday, September 20, will see single JobSeeker payment recipients receive a fortnightly increase of $56.10 taking their base payment to $749.20.
Parenting Payment Single recipients will receive a base payment rate of $942.40, reflecting a $20.30 increase.
For those single parents transferring to this payment as a result of the Government’s change in the Budget to extend eligibility until their youngest child turns 14 (up from aged eight), they will receive an extra $227.50 per fortnight compared to their current rate, including supplements.
As a result of indexation, recipients of the Age Pension, Disability Support Pension and Carer Payment will also receive an increase to their payments.
The single pension rate will increase by $32.70 to $1096.70, and the rate for couples combined will increase by $49.40 to $1653.40.
These figures include Pension Supplement and Energy Supplement.
Single veterans on a service pension will receive an additional $32.70, bringing their service pension to $1096.70 a fortnight, while veterans on the Disability Compensation Payment (Special Rate), known as the Totally and Permanently Incapacitated Payment will receive an additional $53 a fortnight, increasing their payment to $1729.20.
Income support recipients who are renting will also receive an increase to the maximum rates of Commonwealth Rent Assistance, as a result of both the Government’s 15 per cent increase in the Budget and regular indexation.
For single recipients without children, the maximum rate will increase to $184.80 per fortnight, while for family payment recipients who have one or two children, the maximum rate will increase by $32.34 to $217.28 per fortnight.
Income limits for Commonwealth Seniors Health Card recipients will also be indexed, increasing by $5400 to $95,400 per annum for singles and by $8640 to $152,640 per annum for couples combined.
More details regarding September 2023 indexation are available on the Social Services website.
